FICHT motors are tweaky, and the smallest issue can grenade one. If you're getting a warning light, there's a reason to take it in for diagnostics, keep running it and nothing good will happen.

not to highjack this thread, but i have a complete 99 150 FICHT for parts, if you end up needing anything, please let me know.

Will do Jeff, thanks for the heads up!

Jeff - sent you a PM.

So far the boat is running great...the check engine light still comes on occasionally, and the computer says water in the fuel. The sensor has been replaced and even disconnected, but something is still tripping the sensor and that is the code that is given. Is it possible for another problem to cause this code to show up? I am just glad that the motor is running great, otherwise. Kudos to the guys at the The Boat Center on lake palestine, as they have been very patient with me and extremely helpful.

my dad has a 98 ficht 175 and never had a problem with it and his brother has a 98 ficht 150 and never had a problem with it. both had the updates installed back when they were recalled though. guess a few of us got lucky.

Problem with the water in fuel warning is not the sensor there are only two things that will cause this and they are a bad sensor wire broken from the sensor to the ECM or the water circuit inside the ECM and more than likly its going to be the ECM back when I work on them I had four or five with this problem and all were the ECM. Call DFI Technologies and they can answer your qeustion for sure and can also repaiar the problem....www.dfitechnologies.com ....OPTI

Opti is right. I had the same problem. DFI repaired mine.

Thanks guys. Any ideas on how much this is gonna cost me?

jbitter, I know I'm late but I just found this forum and was reading your problem. I'm having exactly, I mean exactly the same problem you have or hopefully had since it's been a while. Please IM me or email me at cdominguez@genesisdirect.com
I can't wait to talk about this man, I have a 98 150 ficht on a 22 hydra sports, the outboard runs sweet but it has given me the check engine light when I slow down after I've been on plane for a while, once I get it I get it on a off every 5 minutes or so. The warning on the computer at the shop they told me that I had water in the fuel, a high voltage warning, and a shift interrrupter warning. After checking at the shop, there was no water in the fuel,it was hard to shift into reverse and forward was also kind of tight so they figured that the shifting was the problem, they adjusted that and the shifting was ncie and smooth but still got the alarm when slowing down, back to the shop and more water in the fuel codes had been recorded, replaced the sensor under the fileter inside the outboard and went back out, they told me at the shop that the sensor was bad, well back on the water and the alarm was back again, back to the shop and they told me to just disconect the sensor unsed the filter and I would not get the warning ever again, 'BS' I still get it. Today 8/16/2010 I got a call from the shop which I appreciated because apparently they had been doing their own research to fix my problem and the guy tells me that I have to send my computer somewhere to be reset, not sure where yet or how much this is going to cost me and if this is going to finally fix my proble.
I'm here in the tampa bay area (florida) and have missed tarpon season, kingfish season becuase of a boat that I cant trust to go out a few miles. The kingfish fall run is oging to start soon and I don't want to miss that one so hopefully I'll be ready.
I'll keep you posted of any news I hear from the shop.
Thanks